5,000 mile view: a phrase used to describe a high-level, summary view of the situation.

5,000 can be replaced by any large number to indicate the same thing
80/20 rule: belief that 80% of the effects come from 20% of the causes; in consulting, this
term is used to imply that 80% of an assignment can be finished in 20% of the time
adding value: quite simply, that value is being added. See also value-add
at the end of the day: a phrase used to attempt summarization, introduce an air of finality
and perhaps close off certain avenues of discussion; since most consultants

boil the ocean: to embark on an apparently impossible, wasteful or fruitless task, usually
preceded by an exhortation not to, as in: Lets not boil the ocean here, an 80/20 should be
enough; this term suggests that the amount of effort to be expended is not worth the
potential payoff
Interviewers may bring this up to suggest that you reduce/focus your analyses take hint
that youre either thinking about way too many things, or thinking way too broadly about
the problem at hand

development opportunity: a weakness, flaw or shortcoming that should be rectified,

usually by the subsequent suggestion
Pay close attention when interviewers/recruiters/anyone mentions this phrase and work to
correct the problem (eg, I think one development opportunity for you is to develop more
succinct responses to questions about past work experience)

directionally correct: essentially wrong

Dont feel encouraged. Youve got a long way to go in getting the right answer

on the beach (term not included in Bens post but added here): a consultant with no
dedicated project(s). being on the beach rarely indicates free time (much less beach
time); rather, being on the beach will indicate that for an undetermined period, you will
worry constantly about your next long-term project while youre shuttled from one shortterm assignment to the next
Just know what it means. Integrate into comments casually if you want brownie points (eg,
Ive heard from consulting friends that many have been on the beach recently)
view from 30,000 feet: a very high-level, preliminary or cursory look at a particular
situation, often used to suggest that pertinent details are inappropriately glossed over;
however, one never speaks of the view from, say five or six feet, which might be more
appropriate given the average height of a human being

Depending on context, interviewer either a) doesnt have additional details, b) wants you to
provide additional details, or c) wants you to provide a summary/high-level answer